UBA, Zenith Rally Boost NGX Index, Investors Gain N861bn
UBA, First Holdco, Access Holdings and Zenith Bank led today’s rally on the Nigerian Exchange (NGX), with the trading platform showing the All-Share Index inching near 220,000 points.
The Nigerian equity market closed trading activities for today on a bullish note, with key performance indicators rising by 0.61%.
With the Banking sector leading the charge, investors stepped up interest in some fundamentally solid midcap and blue-chip stocks across all major market sectors.
Notable gainers included First Holdco, UBA ACCESSCORP, UBA, VITAFOAM, DANGSUGAR, PZ, among others.
Consequently, the market index or All-Share Index added 1,336.39 basis points to close at 219,586.20. Likewise, Market Capitalisation gained ₦860.89 billion to close at ₦141.38 trillion.
According to stockbrokers, market activity was down, with total trade volume and total value traded declining by 18.85% and 19.38%, respectively.
In a note, Atlass Portfolio Limited told investors that approximately 683.68 million units valued at ₦36,167.35 million were transacted across 51,694 deals.
FIRSTHOLDCO topped the volume chart, accounting for 11.23% of units transacted in the local bourse, followed by UBA (8.10%), ACCESSCORP (7.68%), GTCO (5.48%), and JAPAULGOLD with 4.42%.
Also, FIRSTHOLDCO topped the value chart, accounting for 16.03% of the total trade value, making it the most traded on the exchange.
Top gainers include CAP, TRANSCOHOT, and 3 others, up by +10.00% each, then trailed by NASCON (+9.85%), SOVRENINS (+9.52%), MULTIVERSE (+8.82%), FIRSTHOLDCO (+8.45%), PZ (+8.22%), and twenty-one others.
A total of twenty-eight stocks depreciated. With a price depreciation of -10.00%, NEIMETH topped the worst performers’ chart, followed by ABBEYBDS (-9.85%), LIVINGTRUST (-8.94%), ABCTRANS (-8.65%), HMCALL (-6.23%), and TANTALIZER (-5.71%). Hence, the market breadth closed on a positive note, with 31 gainers and 28 losers.
In today’s session, 5 major indices closed higher. The Banking index (+2.03%) led the bulls, with sustained interest in FIRSTHOLDCO (+8.45%).
The Insurance (+1.07%), Consumer Goods (+0.45%), Industrial Goods (+0.15%), and Oil & Gas (+0.02%) indices followed suit, driven by upticks in MANSARD (+3.45%), NASCON (+9.85%), WAPCO (+0.73%) and OANDO (+0.44%), respectively. Meanwhile, the Commodities Index closed flat.
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